Turkey expects to nearly double generation capacity by 2023
It also plans to increase its installed geothermal power capacity by 600 MW in the same period to accommodate for the rising demand for power.
Turkey, like many other fast-growing economies worldwide is in dire need to expand their electrical supply, in order to accommodate for the rising demand for power by businesses and consumers alike. Pairing growth and sustainability is always a tricky, specially for countries that need to import fuel from abroad. According to a Spanish newspaper, Turkey expects to attract around $82 billion to develop hydropower, wind, solar and other energy projects in its territory.
The country plans to reach an installed capacity of 120,000 MW capacity in 2023, which is almost two times the current capacity. It also plans to increase its installed wind power capacity from the current 3,483 MW to 20,000 MW and implement 600 MW geothermal power and 3,000 MW of solar power by 2023.
All these ambitious plans are fuelled by a series of tax benefits, exemptions and incentives by the national government in the areas of technological development and energy as well as for the development of industrial zones.
Source: El Economista